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Cyber Security: What CFO's Need to Know

The Standard Club
September 14, 2017, 5:30 pm

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The Current Events & Business Trends Exchange invites members and their guests to a dinner program entitled Cyber Security:  What CFO’s Need to Know”, featuring guest speaker, Diane Randolph, Chief Information Officer of Chicago-based Ulta Beauty.  

Consider these recent headlines:

“Cyber Attacks Hit Major Companies Across Globe”, WSJ, June 27, 2017

 “HBO Assesses Damage From Cyber Attack”, NY Times, August 2, 2017

 “Cyber Threats Prompt Return of Radio for Ship Navigation”, Reuters, August 7, 2017

 “Reckitt and Mondelez Warn Cyber Attack Hit Sales”, Financial Times, July 6, 2017

Cyber attacks are becoming increasingly more frequent with increasing financial impacts.  The costs to implement barriers to attacks are real, but the real costs if those barriers are penetrated are exponentially higher.  Impacts to the global economy are in the billions and expected to be in the trillions in the coming years.

No company is safe. In fact, 43% of attacks are targeted toward small businesses. Cyber security falls in the top five risks that companies need to manage, with the CFO an integral team member to address the risk. There needs to be a balance between cyber risk prevention, detection and disaster recovery/business continuity.

Diane will share her insights and learnings from the cyber security strategies employed at Ulta Beauty, the largest beauty retailer in the United States with sales estimated to be nearly $5 billion in 2017. 

Diane Randolph was named Chief Information Officer in September 2014. Prior to joining Ulta Beauty, she was Vice President and Chief Information Officer at Reitmans (Canada) Limited, Canada’s largest specialty apparel retailer with nearly 900 stores. From 2005 to 2007, Diane served as Director, Merchandise Business Process at Reitmans. From 2003 to 2004, Diane served as an independent consultant for a number of retailers, providing strategic and tactical counsel on initiatives ranging from new concept start-up to warehouse implementation. Previously, she spent 25 years in roles of increasing responsibility at NSB/STS Systems (now Epicor), a leading supplier of retail software and professional services. Her roles at NSB/STS Systems included Vice President of Software Development.

Guest Speaker: Julia Stasch, President, John D. and Catherine T. MacArthur Foundation

The Standard Club
November 9, 2017, 5:30 pm

Mark your calendar.  More information and registration coming soon.

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